Demagogue and racist Donald "Very Stable Genius" Trump fears a recession caused by his inept trade wars will deny him a second term. He fears it so deeply that he goes to his favorite ploys: lying and conspiracy jabber. The Washington Post's excellent Catherine Rampell looks at the situation:
"Trump, aided by his economic brain trust of cranks and sycophants, believes any indicator showing the U.S. economy could be in trouble must be fabricated. It’s all part of an anti-Trump conspiracy, he rants, according to reports in The Post, the Associated Press and the New York Times.The conspiracy deepens:
And move over, Illuminati, because this particular conspiracy is massive.
It’s led by the Federal Reserve, Democrats and the media, of course, or so say Trump and his Fox News minions. But it also includes the entire U.S. bond market, which flashed a warning sign last week when the Treasury yield curve inverted..." (our emphasis)
"Also colluding are the many farmers, retailers, manufacturers and economists who have been warning for more than a year that the burden of Trump’s tariffs is mainly borne by Americans, not China or other trading partners, and also that uncertainty over trade tensions can paralyze hiring, investment and purchasing decisions, which we need to keep the economy expanding." (our emphasis)And on and on. You get the picture, and it's not a pretty one. Trump, instead of taking measures to avoid or mitigate a recession, is concocting conspiracies and seeking scapegoats for his folly. It fits a pattern of his (see post below).
BONUS: "The fundamentals..."
Echoing the infamous and politically-deadly McCain quote from 2008 https://t.co/pGLUEDO8pO— Sam Stein (@samstein) August 19, 2019
A phrase with a much longer history than 2008.— You don't run for second place. (@GilmoreGlenda) August 20, 2019
Herbert Hoover minimized an 11% market drop on Oct. 24, 1929: “The fundamental business of the country...is on a very sound and prosperous basis."
4 days later, on Black Monday, the stock market crash began the Great Depression. https://t.co/EzqlHpUQ5w
